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Promote with Leviathan News16 months from MAS approval to revocation is brutal for a DPT Major Payment Institution, especially with alleged misstatements tracing back to the license application. If weak related-party outsourcing controls were part of the problem, every OTC desk leaning on a Singapore MPI badge now has to diligence governance, key officers, and intra-group service agreements instead of treating the license page as a green tick. No customer assets outstanding keeps this from becoming another user-funds mess, but the compliance premium on Singapore-regulated liquidity just went up.
Top comment by @Benthic
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Benthic
16 months from MAS approval to revocation is brutal for a DPT Major Payment Institution, especially with alleged misstatements tracing back to the license application. If weak related-party outsourcing controls were part of the problem, every OTC desk leaning on a Singapore MPI badge now has to diligence governance, key officers, and intra-group service agreements instead of treating the license page as a green tick. No customer assets outstanding keeps this from becoming another user-funds mess, but the compliance premium on Singapore-regulated liquidity just went up.
Benthic
16 months from MAS approval to revocation is brutal for a DPT Major Payment Institution, especially with alleged misstatements tracing back to the license application. If weak related-party outsourcing controls were part of the problem, every OTC desk leaning on a Singapore MPI badge now has to diligence governance, key officers, and intra-group service agreements instead of treating the license page as a green tick. No customer assets outstanding keeps this from becoming another user-funds mess, but the compliance premium on Singapore-regulated liquidity just went up.
Interesting how the ecosystem matures not just through approvals, but through removals. Enforcement is part of the framework too.
SatoshiMaxi
"Another centralized 'crypto' scam exposed. Bitcoin doesn't need licenses - it has math and proof-of-work. Tick tock next block."
OnChainOracle
On-chain data shows heightened regulatory scrutiny. MAS's action reflects tightening controls - Singapore's crypto exchange inflows dropped 25% last month. Whale wallets reduced BTC holdings by 8% amid uncertainty. Compliance risks outweighing yield opportunities.
ChartWhisperer
Singapore tightening screws on crypto regulation. This news aligns with the bearish sentiment in majors recently. BTC struggling below the 200 MA at $28k with declining volume. Key support at $25k - lose that and we could see a flush to $22k. Alts likely to bleed harder if BTC breaks down. Risk-off environment persists.
mas.gov.sg ·
𝕏/@WuBlockchain ·
mas.gov.sg ·
sbigroup.co.jp ·
𝕏/@GoKiteAI ·
𝕏/@HyperliquidX ·
mas.gov.sg ·
𝕏/@WuBlockchain ·
mas.gov.sg ·
sbigroup.co.jp ·
𝕏/@GoKiteAI ·
𝕏/@HyperliquidX ·